8.3. SR 04-18-2016 - Laserfiche WebLink

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CONDITIONS(Continued) 2. CONTINUATION OF INSURANCE securing evidence, obtaining witnesses, prosecuting or defending The coverage of this policy shall continue in force as of Gate of Policy in the action or proceeding,or effecting settlement,and(ii)in any other favor of an Insured,but only so long as the Insured retains an estate or lawful act that in the opinion of the Company may be necessary or interest in the Land,or holds an obligation secured by a purchase money desirable to establish the Title or any other matter as insured.If the Mortgage given by a purchaser from the Insured,or only so long as the Company is prejudiced by the failure of the Insured to furnish the Insured shall have liability by reason of warranties in any transfer or con- required cooperation,the Company s obligations to the Insured under veyance of the Title.This policy shall not continue in force in favor of any the policy shall terminate,including any liability or obligation to defend, purchaser from the Insured of either(i)an estate or interest in the Land, prosecute, or continue any litigation, with regard to the matter or or(ii)an obligation secured by a purchase money Mortgage given to the matters requiring such cooperation Insured (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the 3 NOTICE OF CLAIM TO BE GiVEN BY INSURED CLAIMANT Company and to produce for examination,inspection,and copying, The Insured shall notify the Company promptly in writing(i) in case of at such reasonable times and places as may be designated by the any litigation as set forth in Section 5(a) of these Conditions, (ii) in authorized representative of the Company,all records,in whatever case Knowledge shall come to an Insured hereunder of any claim of medium maintained,including books,ledgers,checks,memoranda, title or interest that is adverse to the Title,as insured,and that might correspondence,reports,e-marks,disks.tapes,and videos wl ekher cause loss or damage for which the Company may be liable by bearing a date before or after Date of Policy, that reasonably virtue of this policy, or (iii) if the Title, as insured, is aejected as pertain to the loss or damage. Further, if requested by any Unmarketable Trkfe. If the Company is prejudiced by the failure of the authorized representative of the Company, the Insured Claimant Insured Claimant to provide prompt notice, the Company's liability to shall grant its permission, in writing, for any authorized the Insured Claimant under the policy shall be reduced to the extent representative of the Company to examine,inspect,and copy all of of the prejudice. these records in the custody or control of a third party that 4. PROOF OF LOSS reasonably pertain to the loss or damage.All information designated as confidential by the. Insured Claimant provided to the Company In the event the Company is unable to determine the amount of loss or pursuant to this Section shall not be disclosed to others unless, in damage,the Company may,at Its option,require as a condition of payment the reasonable judgment of the Company, it is necessary in the that the Insured Claimant furnish a signed proof of loss.The proof of loss administration of the claim.Failure of the Insured Claimant to submit must describe the defect, lien, encumbrance, or other matter insured for examination under oath, produce any reasonabfy requested against by this policy that constitutes the basis of loss or damage and information, or grant permission to secure reasonably necessary shall state,to the extent possible,the basis of calculating the amount of information from third parties as required in this subsection, unless the loss or damage, prohibited by law or governmental regulation shall terminate any 5. DEFENSE AND PROSECUTION OF ACTIONS liability of the Company under this policy as to that claim (a) Upon written request by the Insured, and subject to the options 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; contained in Section 7 of these Conditions,the Company,at its own TERMINATION OF LIABILITY cost and without unreasonable delay,shall provide for the defense of In case of a claim under this policy,the Company shall have the foliowing an Insured in litigation in which any third party asserts a claim covered additional options: by this policy adverse to the Insured.This obligation is limited to only (a) To Pay or Tender Payment of the Amount of Insurance. To pay or those stated causes of action alleging matters insured against by tender payment of the Amount of insurance under this policy together this policy.The Company shall have the right to select counsel of its with any costs,attomeys'fees,and expenses incurred by the Insured choice(subject to the right of the Insured to object for reasonable Claimant that were authorized by the Company up to the time of pay- cause)to represent the insured as to those stated causes of action, ment or tender of payment and that the Company is obligated to pay. It shall not be liable for and wiil not pay the fees of any other counsel. Upon the exercise by the Company of this option, all liability and The Company will not pay any fees,costs,or expenses incurred by obligations of the Company to the Insured under this policy, other the insured in the defense of those causes of action that allege than to make the payment required in this subsection,shall terminate, matters not insured against by this policy. Including any liability or obligation to defend,prosecute,or continue (b) The Company shall have the right,in addition to the options contained any litigation. in Section 7 of these Conditions, at its own cost, to institute and (b) To Pay or Olhemse Settle With Parties Other Than the Insured or prosecute any action or proceeding or to do any other act that in its With the Insured Claimant, opinion may be necessary or desirable to establish the Title,as insured, (i) To pay or otherwise settle with other parties for or in the nam of or to prevent or reduce loss or damage to the Insured The Company an Insured Claimant any claim insured against under this policy. may take any appropriate action under the terms of this policy,whether In addition,the Company will pay ary costs,attomeys'fees,and or not it shall be liable to the insured. The exercise of these rights expenses incurred by the Insured Claimant that were author- shall not be an admission of liability or waiver of any provision of this ized by the Company up to the time of payment and that the policy It the Company exercises its rights under this subsection, it Company is obligated to pay,or must do so diligently. (ii) To pay or otherwise settle with the Insured Claimant the loss or (c) Whenever the Company brings an action or asserts a defense as damage provided for under this policy,together with any costs, required or permitted by this policy,the Company may pursue the attomeys'fees,and expenses incurred by the Insured Claimant litigation to a final determination by a court of competent jurisdiction, that were authorized by the Company up to the time of payment and R expressly reserves the right, in its sole discretion,to appeat and that the Company is obligated to pay. any adverse judgment or order. Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the 6. DUTY OF INSURED CLAIMANT TO COOPERATE Insured under this policy for the claimed loss or damage,other than (a) in all cases where this policy permits or requires the Company to the payments required to be made, shall terminate. including any prosecute or provide for the defense of any action or proceeding liability or obligation to defend,prosecute,or continue any litigation and any appeals,the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, 8 DETERMINATION AND EXTENT OF LIABILITY including the right to use,at its option,the name of the Insured for this This policy is a contract of indemnity against actual monetary loss or purpose.Whenever requested by the Company,the Insured,at the damage sustained or incurred by the Insured Claimant who has suffered Company's expense,shall give the Company all reasonable aid(I)in loss or damage by reason of matters insured against by this policy. Page 3